Don’t spend more than you make! The key to getting out of debt is to not stay in it with the same bad habits. Credit cards are a huge convenience, however it’s much easier to swipe a card than to let go of a 20 dollar bill.
Commit to making a change, you’ve got to stay motivated.
If possible switch entirely to using cash, it’s a lot easier to stay motivated when you can physically see the money leaving your hand.
Sit down and do some math, figure out how much you owe, how much you make, and your “must have” living expenses.
Once you know how much you owe you can draw up a budget, including a schedule for repaying your debts. Be realistic and work out what you can afford to repay and still stay within your budget.
Be careful with daily spending…if you don’t pay attention to the need to conserve money you will just continue to prolong the problem.
Switch to another credit card company who’s offering no interest on balance transfers for 6 months. This is a good way to buy some time and save on that ever growing interest payment. Be careful though, make sure you read the fine print.
If you’re carrying a large debt, ($3000+) then consider a debt consolidation company. They would love to make money off you, use their greed to get your out of the hole. Shop around and look for the best offer, the first place you find won’t always be the best choice/offer.
Don’t borrow any more money or take on any more debts until you have repaid what you already owe.
A few neat web based budget tools: